Russian oil to be calculated

The Government established a method for the recording of Russian oil, inclusive of real losses in its production, which is necessary for the imposition of a mineral tax. The Prime Minister of Russia D.Medvedev signed the document. The rules have been developed iby the Ministry of Energy.

“Russian Federation is the largest oil producing country. But until now the oil accounting method on its production has not been specified,” the vice-premier A.Dvorkovich comments. Previously, the companies, whose documentation served as the guidelines and they varied enormously, defined the oil content. This meant a disagreement with the taxmen. According to Dvorkovich, oil recording rules are meant for the solving of such problems.